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Do you know what FDIC stands for? Most people do not. You are
not alone.

It is important because the Federal Deposit Insurance Corporation
is the one that guarantees your money in the unlikely (I hope) event
Your bank may withdraw from the business.

Ten years ago the amount of the guarantee has been only $ 10,000.
Today it is $ 100,000. What many people worry about this very high level
the FDIC has enough money to pay if all of this terrible disaster
should occur? Well, do not worry about Uncle Sam, the presses can turn
a gain in order to pay for all. Of course, it could take a year
Your money, but at least you will get.

In January, the FDIC said it would an update do "on the
Protection of customer savings accounts at many banks. They said they
65 big banks wanted to investigate assets of more than 18
Billion. (Yes, that is) a B. They did not say what or howthey would
to do, but these 65 banks as "problem institutions cited. This she did
not clarify what could be the problem.

In general, this type of "problem" refers to the capitalization requirements.
The banks should pay at least 10% of the reserves, you have all the customer (s), which
present a demand for money. Below 8% is considered undercapitalized
and below 6% is clearly too little capital. Red flags go and Banking
Auditor to appear (IHope).

The FDIC will be able to take control of the bank, and remove
Currently go to the wire.

Each bank pays a premium to the FDIC for the insurance. Part
the money should be lifted as a reserve in case of creating
every bank failure. Let us hope that this "reserve" does not like Social Security
Trust Fund, which is issued every year by the politicians in Washington. There
If no Social Security Trust Fund with your moneyit.

Is your bank on the hit list? You can ask your bank manager, but it
it is doubtful he will know it. This is in the far reaches of the large companies
Headquarters. If a call is there, you get the answer? Doubtful. Try the FDIC to
now see what kind of run around is. Perhaps an investigation by the
Freedom of Information Act could do it, but how long is it?

As usual, the young man is pushed around by bureaucrats.
You do not want himto know what a poor job they do.

Not be snowed "when your bank tells you they have billions of dollars in
To make deposits and not to worry. It is some of the largest banks in
The major problems.

May take over the action, only a small investor, the money is distributed
in more than one bank - maybe 3 or 4, depending on how much could he have.

, No matter how small a savings account a person could have
to separate a good ideain more than one bank.

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